Faradion

Company Snapshot

Founded: 2011
Entity Type: Private
Region: UK
Headquarter: Sheffield, UK
Key Geographics: Europe
Corporate Address: The Innovation Centre 217 Portobello, Sheffield S1 4DP, UK Tel. +44-(0)-114-224-2421 www.faradion.co.uk

Company Overview

Faradion is a U.K.-based company that manufactures sodium-ion batteries. The company’s sodium-ion batteries are used in various applications like mobility, energy storage systems, and backup power, and it used as energy in remote locations. It is a wholly owned subsidiary of Reliance New Energy (RNEL), a subsidiary of Reliance Industries. Faradion’s sodium-ion technology provides essential advantages compared to lithium-ion technology, including greater sustainability, patented zero-volt safe transport and storage capability, and massive opportunity for scalability.

Faradion In Reports

Next-Generation Advanced Batteries: Global Markets

Accoriing to BCC Research Next-Generation Advanced Batteries market scenarios. 2023 is considered a base year, 2024 is an estimated year, and the market values are forecasted for five years until 2029.

Sodium-ion Batteries: Materials, Technologies and Global Markets to 2029

BCC Research Market Analyst says global market for sodium-ion batteries (SIB) is estimated to increase from $318.0 million in 2023 to reach $838.5 million by 2029, at a CAGR of 18.6%.

Opportunities for Eco-friendly Sustainable Batteries

The global market for eco-friendly batteries should grow from $17.6 billion in 2019 to $34.3 billion by 2024 at a compound annual growth rate (CAGR) of 14.3% for the period of 2019-2024.

Company's Business Segments

  • Sodium-ion Battery : The company advanced, cost-effective, and sustainable sodium-ion battery technology, offering a safer alternative to lithium-ion with zero-volt transport capabilities.

Applications/End User Industries

  • Energy Storage Systems (ESS)
  • Electric Mobility (Transportation)
  • Backup Power & Telecom
  • Industrial Applications
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